The Bauba Platinum Project is a high-quality Platinum Group Metals (PGM) prospecting project, that is situated within a prime segment of the Eastern Limb of the Bushveld Igneous Complex (BIC). The project lies in the heart of the world’s best-known platinum region, where a number of neighbouring companies are prospecting and mining Platinum Group Elements (PGEs) successfully from the Merensky and UG2 reefs.
PLATINUM
EXPLORATION PROJECT
Bauba holds PGM mineral rights over eight properties that extend across approximately 14 390ha. All of the Bauba properties lie within the Leolo mountain range in the Limpopo province, some 40km northwest of the town of Steelpoort and 245km northeast of Johannesburg. The properties are grouped into the Northern and Southern Clusters.
LEGAL TENURE & AGREEMENTS
Bauba exercised its right to apply for a Retention Permit prior to the lapse of its Prospecting Right over the Northern and Southern Cluster farms. The Retention Permit was accepted by the Department of Mineral Resources in 2015. Bauba is now in the process of applying for a mining right over the 8 farms.
GEOLOGY AND MINERALISATION
REGIONAL AND LOCAL GEOLOGY
The Bauba Platinum Project prospect areas are largely underlain by the Main Zone and to a lesser extent the Upper Zone mafic layers. The Main Zone is underlain by the Critical Zone, which hosts the world’s largest economic Platinum Group Elements (PGE) resources in the Merensky and UG2 Reefs.
The Merensky Reef within the Bauba Platinum Project occurs at depths of between 1 600 m and 2 500 m below surface. The UG2 Reef is located between 300 m and 400 m below the Merensky Reef.
The farm Waterkop 113KT does, however, contain a UG2 Reef outcrop and Bauba has started to develop mine plans to extract PGMs on Waterkop 113KT in the near future.
DEPOSIT TYPE AND MINERALISATION
The Merensky Reef consists of the mineralised upper portion of the medium-grained, poikilitic Merensky pyroxenite, while the UG2 Reef comprises the mineralised, medium-grained, UG2 chromitite seam.
The mineralised Merensky and UG2 Reefs are magmatic segregation deposits that contain economic quantities of the PGEs and base metals. The PGEs are associated with chromitite and base metal sulphides.
NORTHERN CLUSTER
| Fisant Laagte | 506KS |
| Zwitzerland | 473KS |
| Indië | 474KS |
| Schoonoord | 462KS |
| Waterkop | 113KT |
SOUTHERN CLUSTER
| Groot Vygenboom | 284KT |
| Genokakop | 285KT |
| Houtbosh | 323KT |
RESOURCE ESTIMATES
The current 4E (Pt+Pd+Rh+Au) PGM resource estimates for the Bauba Platinum Project, discounted for geological losses, is tabulated below with 60% of the total resources attributed to Bauba. The resources were compiled by Bauba’s geologists and verified and signed off by an independent competent person, Mr AN Clay of VenmynDeloitte.
Inferred Mineral Resource for the UG2 (30 August 2013)
Note: A regional dip of 17° west has been used to calculate the reef area
** Based on Bauba Platinum Limited’s 60% attributable share
Inferred Mineral Resource for the Merensky Reef (30 August 2013)
Note: A regional dip of 17° west has been used to calculate the reef area
** Based on Bauba Platinum Limited’s 60% attributable share
GEOGRAPHICAL LOCATION MAP
SURFACE GEOLOGY
EXPLORATION ACTIVITIES
Since Bauba started to manage the Bauba Platinum Project, the company developed and initiated a comprehensive exploration programme for Platinum Group Metals (PGM) and associated metals within the prospect areas.
The exploration programme consisted of:
The structural plans for the project areas from acquired geophysical, satellite and aerial photo data and imagery, as well as public domain information about neighbouring mines and projects, have been developed and are upgraded as new data becomes available. Preliminary (Phase 1) drilling programmes for each Cluster have been scoped to estimate inferred resources and inform decisions on subsequent, focused drilling for feasibility studies. The following table summarises the status of the preliminary drilling programmes.
| Cluster | Boreholes planned | Planned drilling (m) | Drilling commenced | Boreholes completed | Boreholes in progress | Drilling metres completed |
|---|---|---|---|---|---|---|
| Northern | 10 | 19 200 | April 2012 | 3 | 0 | 8 166 |
| Central | 6 | 15 600 | July 2011 | 4 | 0 | 12 027 |
| Southern | 4 | 7 900 | April 2010 | 4 | 0 | 7 736 |
| Total | 20 | 42 700 | 10 | 0 | 27 929 |
Phase 1 drilling on the Southern Cluster intersected the robust Merensky and UG2 Reef at depths of between 1 600 m and 1 930 m below surface (1 400 m and 1 800 m below datum). Geological modelling of the drilling data has been completed and allowed the declaration of a SAMREC compliant, discounted inferred resource of 8,6 Moz (4E) (5,1 Moz attributable to Bauba A Hlabirwa) over a portion of the Southern Cluster Properties. Phase 2 drilling is currently in abeyance.
Three boreholes drilled on the Northern Cluster increased inferred resource of the Bauba Platinum Project from 7.46 million ounces to 17.22 million ounces.